NO.PZ2018113001000065
问题如下：
An investment company adopts an active currency management policy and currently has currency exposure in its portfolio that needs to be managed, but the company lacks fund managers who are good at currency management.
In order to achieve excess returns on foreign exchange management. Determine the appropriate currency management strategy, and explain the reasons.
选项：
解释：
Answer:
Currency overlay strategy should be adopted to manage currency risk.
Currency overlay is an active currency
management strategy that conforms to the company's currency management policy.
Currency overlay strategy is to outsource currency
exposure to a professional third party for management to obtain excess returns,
which is also in line with the company's lack of professional foreign exchange
personnel.
中文解析：
该公司应该采取的是currency overlay策略。
该策略是将组合的外汇敞口单独剥离出去，交给专业的第三方进行管理，从而来获取外汇管理上的超额回报，因而可以看到currency overlay策略是一种积极主动的外汇管理策略。
尤其适合内部缺乏专业的外汇管理人才的公司使用。
答案提到currency overlay是active 的管理策略，那如果外包出去之后，第三个机构不会采用passive的管理方式来manage吗
